China’s renminbi could become a leading international currency, even rivaling the U.S. dollar, if the country opens up its markets and liberalizes its foreign-exchange rules, a European Central Bank Executive Board member said Wednesday.
Speaking at a forum dedicated to the role of the Chinese currency in Luxembourg, Yves Mersch said that the Chinese currency remains in the early stages of its internationalization, but said the process is “rapidly moving forward.”
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Todd Buell, Wall Street Journal via CHINA US Focus http://ift.tt/1o6aS8O
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